This is the first ever facilities financial investment trust offering by a state-owned company in the countryPowerGrid Infrastructure Investment Trust (PowerGrid InvIT)'s going public (IPO) has actually been subscribed 59 percent at the end of 2nd day of bidding i.e.

Friday.

The concern has actually received quotes for 25,17,42,700 systems out of the 42,54,25,000 units on offer.

The shares are priced at Rs 99-100 per unit and the business is looking at raising Rs 7,735 crore.The IPO includes a fresh issue of Rs 4,994 crore and an offer for sale totaling up to Rs 2,741.50 crore.

Ahead of the IPO, PowerGrid InvIT raised Rs 3,480 crore from anchor investors.

The IPO profits will be used for offering loans to initial portfolio possessions, payment or pre-payment of financial obligation and for basic purposes.This is the first ever infrastructure financial investment trust offering by a state-owned business in the nation and will be the 3rd InvIT to be listed on Dalal Street.PowerGrid Corporation of India is the owner of PowerGrid InvIT.